Transport Trade Services revenues up by 9 pct in H1, 2021, to almost 274 million lei

TTS (Transport Trade Services), one of the largest freight carriers in the Danube basin, obtained in the first half of 2021, a consolidated net profit attributable to shareholders of 24.6 million lei, up by 42.5% compared to the similar period of 2020, informs a company press release sent to AGERPRES on Tuesday.

Total revenues rose to 274 million lei, up 9.5% compared to the same period last year.

"The result was supported by the increase in revenues from the River Transport and Other Activities segment, as well as the recovery of the Port Operations segment. There were 7.2% increases in the volumes transported and operated, especially for minerals and chemicals," reads the release.

According to the cited source, the integrated business model, the geographical scope of operations, the continuous measures to streamline the allocation of resources, as well as the lifting of restrictions related to COVID-19 at local, European and global level supported the comeback of TTS (Group) activities that were affected in 2020 by the sanitary measures, as well as by the severe drought that affected the cereal crops from the south of Romania.

"The first results of the TTS group as a listed company highlight the benefits of our integrated business model and the geographical scope of our operations. The business environment in which we operate has been influenced by the pandemic context and the severe drought, however the continuous measures undertaken to streamline resources have contributed to the solid achievements of the first 6 months of 2021," said Petru Stefanut, General Manager of TTS Group.

TTS (Group) is a provider of integrated river transport and port operations services, with its own fleet and ports, with operations in 3 main segments of activity: International freight shipping; River transport and port Operation. By types of products, the activity is divided into: Minerals (which provides logistics operations for raw materials and finished products of the metallurgical industries and equipment), Agri (which deals exclusively with the logistics of agricultural goods (cereals, seeds, vegetable oils), Chemicals (which deals with the logistics of fertilizers and raw materials for fertilizer production).

TTS (Group) has the largest river fleet in the Danube basin, consisting of 481 river units with a capacity of almost 800 thousand tonnes, 8 floating cranes, as well as its own port terminals in Constanta and in 7 Danube river ports. TTS shares have been listed on the Bucharest Stock Exchange as of June 14, 2021 following a secondary public offering through which 58.5 million euro shares were sold.